KUALA LUMPUR: Affin Bank Bhd has issued RM500mil of additional tier 1 capital securities (AT1CS) under its RM3bil programme in nominal value.
The banking group said on Tuesday the tenure of the AT1CS issued was perpetual on a non-callable five years.
“The AT1CS programme will give Affin Bank the flexibility to raise funds via issuance of AT1CS from time to time, and shall be utilised for the general banking working capital requirements and business purposes of the company,” it said.
Affin Bank said the AT1CS issued from the programme would qualify as Basel III-compliant additional Tier 1 capital.
This would be in accordance with the Capital Adequacy Framework (Capital Components) issued on Feb 2, 2018 by Bank Negara Malaysia.
RAM Rating Services Bhd had assigned a rating of A3 to the AT1CS programme.
Affin Hwang Investment Bank Bhd and Maybank Investment Bank Bhd are the joint principal advisers, joint lead arrangers and joint lead managers for the AT1CS programme.
Affin Hwang, Maybank IB and CIMB Investment Bank Bhd are the joint lead managers for the first issuance under the AT1CS programme.
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